According to the Mercom Capital Group report, health IT funding in 2019 reaches an all time high of more than $5 billion and we are only halfway through the year. In comparison to 2018, Worldwide venture funding for digital health companies was only $4.9 billion for 383 deals but in 2019 the total raised is $5.1 billion for 318 deals. These contributions come from over 800 investors including big names such as: Amazon’s Alexa Fund, UnitedHealthcare’s Optum Ventures and BlueCross BlueShield.
These are the most-funded categories so far for 2019:
- Analytics – $1.1 billion
- Telemedicine – $896 million
- Mobile Health Apps – $627 million
- Wellness – $341 million
- Healthcare Booking – $336 million
- Clinical Decision Support – $287 million
Now some of you might be wondering, what is our health system spending millions on? Here are some examples of how health systems are spending their dollars for new initiatives in 2019:
- Cedars-Sinai Medical Center in Los Angeles
- Has become a founding sponsor of Bioscience Los Angeles County academic institutions and public institutions.
- The University of Arkansas for Medical Sciences in Little Rock
- Established the Institute for Digital Health and Innovation to improve telemedicine and digital health services. The institute’s goal will be focusing on increasing access to technology for video consultations and to broaden the specialties it offers patients.
- Providence St. Joseph Health
- Partnered with Microsoft to build a new high-tech hospital that will improve the health system’s EMR and improving the hospital model.
- Cleveland Clinic
- Created the Center for Clinical Artificial Intelligence to increase the use of technology in diagnostics, disease prediction and treatment plans. The center has already begun building machine learning models to identify patients at high risk of death during admission.
This article was created by Stephanie Sok, Business Researcher, Global Healthcare IT, Inc. and the following base line articles: For more on each please click on the link.
Stephanie can be reached on firstname.lastname@example.org.